Original: $1,000 at +200 → pays $3,000 if it wins (profit $2,000).
Hedge: bet $1,500 on the other team at +100.
Profits:
If original wins: $2,000 − $1,500 = $500.
If hedge wins: $1,500 − $1,000 = $500.
So a full cover at +100 locks $500
Original: $1,000 at +200 → pays $3,000 if it wins (profit $2,000).
Hedge: bet $1,500 on the other team at +100.
Profits:
If original wins: $2,000 − $1,500 = $500.
If hedge wins: $1,500 − $1,000 = $500.
So a full cover at +100 locks $500
You think Scherzer over the hill? doesn't seem great that their 3rd starting pitcher had a 5+ ERA this season.
You think Scherzer over the hill? doesn't seem great that their 3rd starting pitcher had a 5+ ERA this season.